Fmr LLC Has $181.14 Million Stake in Western Alliance Bancorporation (NYSE:WAL)

FMR LLC decreased its stake in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 22.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,168,265 shares of the financial services provider's stock after selling 624,749 shares during the quarter. FMR LLC owned 1.97% of Western Alliance Bancorporation worth $181,137,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in shares of Western Alliance Bancorporation in the fourth quarter worth approximately $26,000. Smartleaf Asset Management LLC lifted its holdings in shares of Western Alliance Bancorporation by 56.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 117 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Western Alliance Bancorporation by 70.1% in the fourth quarter. Fifth Third Bancorp now owns 330 shares of the financial services provider's stock worth $28,000 after buying an additional 136 shares during the period. Allworth Financial LP raised its position in Western Alliance Bancorporation by 115.6% during the fourth quarter. Allworth Financial LP now owns 401 shares of the financial services provider's stock valued at $37,000 after buying an additional 215 shares during the period. Finally, Atala Financial Inc acquired a new stake in Western Alliance Bancorporation during the 4th quarter worth about $44,000. Hedge funds and other institutional investors own 79.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WAL. Wells Fargo & Company reduced their price target on shares of Western Alliance Bancorporation from $95.00 to $80.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. cut their target price on shares of Western Alliance Bancorporation from $110.00 to $105.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. StockNews.com upgraded shares of Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Tuesday, February 25th. Piper Sandler increased their price objective on Western Alliance Bancorporation from $115.00 to $116.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Finally, Barclays lowered their target price on Western Alliance Bancorporation from $107.00 to $97.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Western Alliance Bancorporation currently has an average rating of "Moderate Buy" and a consensus target price of $96.40.

Western Alliance Bancorporation Stock Performance

Shares of NYSE:WAL traded up $0.90 during midday trading on Friday, hitting $66.14. The company's stock had a trading volume of 986,122 shares, compared to its average volume of 1,218,813. Western Alliance Bancorporation has a fifty-two week low of $53.75 and a fifty-two week high of $98.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.85. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of 9.32, a PEG ratio of 0.63 and a beta of 1.29. The stock's 50 day simple moving average is $77.06 and its 200 day simple moving average is $84.00.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.92 by $0.03. Western Alliance Bancorporation had a return on equity of 13.14% and a net margin of 15.49%. As a group, research analysts anticipate that Western Alliance Bancorporation will post 9.05 earnings per share for the current year.

Western Alliance Bancorporation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Friday, February 14th. Western Alliance Bancorporation's dividend payout ratio (DPR) is presently 21.41%.

About Western Alliance Bancorporation

Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates through Commercial and Consumer Related segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; demand deposits; and treasury management and residential mortgage products and services.